- form of opinion you would consider the most appropriate
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
question 17
![You are the auditor of MLS Ltd, an educational institution. For the financial year ended 30 June
2019, MLS disclosed in its financial statements that it would discontinue the manufacturing of half
of its current products in the next 12 months. Management’s reasons for the decision were
decreases in consumer demands and changes in environmental laws. Consequently, revenue is
budgeted to decrease by $60 million in the next financial year.
Required:
Select which form of opinion you would consider the most appropriate to use. Give reasons.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3d49a1bf-def0-472f-94db-660c9693a140%2Ffc346dad-0430-458e-9ce1-87e872702e32%2Ftn0520z_processed.png&w=3840&q=75)
Transcribed Image Text:You are the auditor of MLS Ltd, an educational institution. For the financial year ended 30 June
2019, MLS disclosed in its financial statements that it would discontinue the manufacturing of half
of its current products in the next 12 months. Management’s reasons for the decision were
decreases in consumer demands and changes in environmental laws. Consequently, revenue is
budgeted to decrease by $60 million in the next financial year.
Required:
Select which form of opinion you would consider the most appropriate to use. Give reasons.
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